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20121222
20121230
Search Results 0 to 6 of about 7 (some duplicates have been removed)
consumers, they are chronically bad at creating a balance between deficit and surplus regions. a geographic problem, and intertemporal. remember -- if that comes first, suddenly the money lender who later becomes a banker who later becomes wall street plays a hugely significant role in this process. the banker is the conduit of that recycling mechanism. when they get an increase in proportion as the result of their mediation of that process. given that, a failure of the banker is not the same thing as the failure of a clothes maker. suddenly, there are two things that must happen. one, society will demand that banks are not allowed to go to the wall. then bankers are affectively given carte blanche, free money for themselves. and the whole mechanism breaks down like in 2008. it is often said in the eurozone, we made a huge error in europe of binding disparate economies by means of common currency. this is not the first time these things that happened. it happened in the united states of america. you have disparate economies in the united states of america that are bound together monetarily
just passed reduces the deficit $23 billion. the last farm bill that we passed that was completely paid for at my insistence as budget committee chairman. if everyone else were functioning the way the agricultural sector has would not have the budget problem. we faced up to reality. we had more pay fors than expenses. in this bill even far more in the way of deficit reduction. it demonstrates this is possible to do. but you got to have leadership and you got to have people who are willing to make some tough decisions to get it done. >> we have about five minutes and i want to talk more personal. you have decided to leave your papers of your quarter century plus to george washington university. why is that? >> i went to george washington university. they have tremendous resources there to take advantage of this collection which is loaded with history. >> what kind of things will researchers and historians find? >> i will find a single-minded focus on fiscal responsibility for 26 years. my staff says the remarkable thing i am looking at this collection is how consistent i have been about.
into the situation we are in right now, with the huge debate over the size of the deficit and the debt? >> go back to 2001 and thereafter. the cost of the wars was not included in the budget. they were always supplemental. they did not show as a deficit. while the budgets looked reasonable during that time, the actual spending was greater. people did not pay as much attention to the debt. it just kept mounting and growing. we borrowed to pay for the worse when we did not ask people to make sacrifices financially. there is a difference between borrowing in the future, pang forward and backwards, or having to pay right now. people might have felt differently if they had felt a pinch right at the time. they would have asked different questions than were asked. that is one of the reasons we got where we are. >> could you have been any more vocal about appropriations? >> i was vocal. when i got on the appropriations committee, i became chairman of the legislative branch. that is everything, all of the buildings. office buildings, 1700 capitol police forces, and all of their help, support staff. i held
in infrastructure and dealing with the deficits were more -- in a more balanced way. it was about what our obligations are to each other. it was about big things. those are very, very big things. i will say that, for all of the critique about whether our campaign was about big things or not, the preoccupations of people who write about that -- and i used to do that for a living -- i don't try to separate myself -- many of them are my best friends -- there is an awful lot of horse race coverage of this presidential race. there is such a preoccupation with who will win and who will lose and so little real interest in what the implications are. >> we were talking about pulling. >> public polling is so voluminous now. any to kids with an abacus can do a poll of the corner grocery store and some national news are in position will cover it as if it is news. and maybe the billion tommy pulled him out today. -- the billy and tommy poll came out today. it can be done sound yet they produce results that were wholly different than what we knew to be the case. yet it would drive coverage. the gallup p
run for years over a trillion dollar deficits and it is time for us to do a big fiscal deal in washington that really drives down the trajectory of our debt. we have to do it. and then come in the senate, we have to get back to regular budgeting. i serve on the senate budget committee. since i have been! even before that, three years since we have any budget in t senate. -- since i have been there, even before that, three years since we have done a budget in the senate. >> new hampshire is a great model. >> absolutely. this to me is the number one overriding priority. and i want to be part of making sure that we finally start getting on the right fiscal track. it is not easy. but there is no easy answer to all of this. and programs like social security and medicare, we have to start talking about how we reform them. because, for example, medicare goes bankrupt in 2024. that is not that far off for people in this room who rely on it. or social security in 2033. we have to have those discussions right now to strethen america because nobody wants to see us see what happened ieu
Search Results 0 to 6 of about 7 (some duplicates have been removed)